OPEC

Mexico Cuts Heavy Crude Price 

Mexico has announced a $1.50/B cut in the price of its heavy (22.7° API) Maya crude, from $25.50/B to $24/B, effective 1 June. At the same time, however, the Mexican Energy Minister, Mr. Francisco Labastida Ochoa, has emphasized that his country intends to continue to defend the current oil price structure, since a collapse of prices would have serious repercussions on the international financial system. Speaking at a joint press conference with...